Owner set to sell low-occupancy office building in downtown Jacksonville

The 18-story building with a 63 percent occupancy rate is listed for sale on Ten-X, an online auction website

The BB&T Tower (center) in downtown Jacksonville
The BB&T Tower (center) in downtown Jacksonville

Special servicer LNR Partners is soliciting bids for BB&T Tower, an 18-story landmark in downtown Jacksonville with a 63 percent occupancy rate.

The 285,487-square-foot office building is a so-called REO, or “real estate owned,” property that a lender repossessed.

BB&T Tower has a listing on Ten-X, an online auction website, and a final call for bids is scheduled for May 31.

The owner of BB&T Tower has completed a $3.87 million renovation of the building, which was built in 1975.

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Its address at 200 West Forsyth Street in downtown Jacksonville is near Interstate 10 and Interstate 95

Anchored by regional bank BB&T, the building occupies a full city block and connects to a six-story parking garage through a tunnel.

LNR Partners retained Transwestern to provide investment sales services for the planned disposal of BB&T Tower.

Working with LNR is John Bell, a managing director of Transwestern, who facilitated the sale of a commercial property directly across from BB&T Tower. – Mike Seemuth